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Feb 6, 2013
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he was also an economic advisor to president clinton. now he teaches at princeton. alan blinder's latest book is after the music stops, the financial crisis. the response and the work ahead. he says it tries to answer the question, how do we get into this mess and how do we get out of it? i am pleased to have alan blinder back on this program. lcom >> thankou very much. charlie: i'll say this to you. if you're going to write a book, then you need somebody to endorse it. this is not bad. a master piece. simple. straightforward. and wise. president william j. clinton. >> i have to admit i was pretty pleased with that endorsement. >> he actually read the book. i thought he would skim it. >> charlie: could you tell for sure. >> i wasn't going to do that. i think it's impolite to a former' president. >> charlie: you think he read the book. >> he said he read the book. charlie: here was the question though. before we talk about the book. let's talk about where we are today. we had a dip in the fourth quarter. do you read anything into that? >> not very much. we had a dip
he was also an economic advisor to president clinton. now he teaches at princeton. alan blinder's latest book is after the music stops, the financial crisis. the response and the work ahead. he says it tries to answer the question, how do we get into this mess and how do we get out of it? i am pleased to have alan blinder back on this program. lcom >> thankou very much. charlie: i'll say this to you. if you're going to write a book, then you need somebody to endorse it. this is not bad. a...
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Feb 26, 2013
02/13
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president clinton did. deals between president clinton and speaker gingrich in the '95, '96, '97 time frame. we have come together a lot of times in our past we just can't seem to do it now. >> rose: what's changed. >> i think what has changed are these two things. one that it is tougher because resources are scarcer. and the numbers are so much bigger. and secondly, i do think we're living in a more polarized era. i there in one more thing. i think sadly we are living in a more selfish era. i think nobody really wants to pay the costs. for example, an average person at 65, about to enter medicare has paid $122,000 into the medicare system. >> rose: 122,000. >> thousand, they will get back inflation adjusted, they will get back $377,000 dollars over their ellerly years. you don't have to have study a lot of math to know those numbers don't work. and so all this debt we're piling up, these 800, 900 billion dollar deficits, all these promises, we're sticking on our children. and that to me is very depressing.
president clinton did. deals between president clinton and speaker gingrich in the '95, '96, '97 time frame. we have come together a lot of times in our past we just can't seem to do it now. >> rose: what's changed. >> i think what has changed are these two things. one that it is tougher because resources are scarcer. and the numbers are so much bigger. and secondly, i do think we're living in a more polarized era. i there in one more thing. i think sadly we are living in a more...
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Feb 27, 2013
02/13
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he was treasury secretary under president clinton and returned to the white house in 2009 as advisor of the national economic council, in that role he was central to president obama's the response to the financial crisis, he is here to talk about the scwes officer imposed in summer of 2011 and intended as a consequence so unacceptable congress and the president would have to agree on revenue increases and spending cuts in order to avoid it. with three days to go they have not been able to do that, the first $85 billion about spending cuts will take effect on march 1st, ben bernanke testified to cock earlier today he promised to extend the federal reserve stimulus measures and make made a direct appeal to avoid the sequester. >> the congress and the administration should consider replacing the sharp front loaded spending cuts required by the sequestration with policies that reduce the federal deficit more gradually in the near term but more substantially in the longer run. >> rose: i am pleased to have larry summers back at this table. >> good to be with you, charlie. >> rose: so firs
he was treasury secretary under president clinton and returned to the white house in 2009 as advisor of the national economic council, in that role he was central to president obama's the response to the financial crisis, he is here to talk about the scwes officer imposed in summer of 2011 and intended as a consequence so unacceptable congress and the president would have to agree on revenue increases and spending cuts in order to avoid it. with three days to go they have not been able to do...
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Feb 27, 2013
02/13
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supreme court justices, hillary clinton but there are also ordinary women who are heroes of this film. a woman who was working for a telephone company in atlanta who challenged her employer. a woman who worked for a mining company. where did those women get that courage that they displayed? >> well, i think we get it from each other. that's why it's so important to see this film because we do what we see not what we're told. in my textbook when i was in college, there was one sentence that said women were given the vote. and that was it. we were left thinking that, you know, we got privileges from on high which just isn't the way it works. and to see the coal miner and to see a great woman in history like eileen hernand who was on the equal employment commission and who was the president of now, who played a huge role certainly at least as much as me, more. yet people don't know her. so this is a real mix of totally unknown, should be well known, a few who are well known. it's real life. and it is, to me, in a way the beginning of history. because it's remedial history. so one day we'
supreme court justices, hillary clinton but there are also ordinary women who are heroes of this film. a woman who was working for a telephone company in atlanta who challenged her employer. a woman who worked for a mining company. where did those women get that courage that they displayed? >> well, i think we get it from each other. that's why it's so important to see this film because we do what we see not what we're told. in my textbook when i was in college, there was one sentence...
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Feb 27, 2013
02/13
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supreme court justices, hillary clinton but there are also ordinary women who are heroes of this film. a woman who was working for a telephone company in atlanta who challenged her employer. a woman who worked for a mining company. where did those women get that courage that they displayed? >> well, i think we get it from each other. that's why it's so important to see this film because we do what we see not what we're told. in my textbook when i was in college, there was o sentence that said women were given the vote. and that was it. we were left thinking that, you know, we got privileges from on high which just isn't the way it works. and to see the coal miner and to see a great woman in history like eileen hernandez who was on the equal employment commission and who was the president of now, who played a huge role certainly at least as much as me, more. yet people don't kow her. so this is aeal mix of totally unknown, should be well known, a few who are well known. it's real life. and it is, to me, in a way the beginning of history. because it's remedial history. so one day we'll
supreme court justices, hillary clinton but there are also ordinary women who are heroes of this film. a woman who was working for a telephone company in atlanta who challenged her employer. a woman who worked for a mining company. where did those women get that courage that they displayed? >> well, i think we get it from each other. that's why it's so important to see this film because we do what we see not what we're told. in my textbook when i was in college, there was o sentence that...
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Feb 2, 2013
02/13
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bill clinton who was president at the time made it mandatory, he said, okay, freddie mac and fannie mae. you have to have at least half your loans and affordable housing. that was a very dramatic announcement because of the size of fannie and freddie. an article in "the new york times" identified the involvement in this issue. freddie and fannie were so vague that there is no way they can meet this goal without reducing lending standards. so if they had achieved that goal, they would be taking so much risk and that could happen and they are so big that they could take out the whole u.s. financial system. nine years later, it happened. when they fail, they owed $5 trillion and they had $2 trillion in subprime mortgages. even before they failed, they were leverage 1000 to one. that means they had $8000 of that for every dollar. so the only way to do that is if the government guarantees your debts, not exactly what was going on. this is something that is way underestimated. you have the dominant player and has over half the market driving down lending standards. it sucks everyone into the
bill clinton who was president at the time made it mandatory, he said, okay, freddie mac and fannie mae. you have to have at least half your loans and affordable housing. that was a very dramatic announcement because of the size of fannie and freddie. an article in "the new york times" identified the involvement in this issue. freddie and fannie were so vague that there is no way they can meet this goal without reducing lending standards. so if they had achieved that goal, they would...
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Feb 24, 2013
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remember the old bill clinton strategy, saying in 1992 when the economy was nowhere near as bad as the one barack obama inherited, he was doing so many things at once. i mean, give him credit, he accomplished an incredible amount of stuff. but one result of that is it was very hard for the american electorate to see the forest with all these trees popping up. like, what did health care reform have to do with getting people back to work? the answer is not anything really. although it was a good thing to do in its own right. in my view, not in everybody's view. and so you had people watching this burst of act -- activity in 27 directions at once and not perceiving the really excellent job that the obama team did in preventing a much worse fate than we could have had. so i think i've talked too long already. let me stop there and see what sort of questions. i'm in trouble here. of. [applause] >> thank you. >> you'll take the questions. um, this is a bit of a town meeting, so if you're comfortable saying your name, please do. and line up at the month, and everyone will get a chance. of so,
remember the old bill clinton strategy, saying in 1992 when the economy was nowhere near as bad as the one barack obama inherited, he was doing so many things at once. i mean, give him credit, he accomplished an incredible amount of stuff. but one result of that is it was very hard for the american electorate to see the forest with all these trees popping up. like, what did health care reform have to do with getting people back to work? the answer is not anything really. although it was a good...
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when bill clinton was president there were a group of folks in the markets called the bond vigilantes you know and if that goes back to the nineteenth century or so if the government was going to be fiscally imprudent the vigilantes would sell off the bond market and this would somehow force the government to be more more prudent because interest rates would go up but what we've seen with these programs of quantitative easing is that the bond vigilantes have been neutralized they've been taken out of the picture because the government themselves are both the seller of the bonds and the biggest buyer of their own bonds so they have destroyed the price signal and the inflation that should be appearing more obviously has is showing up in what would be an historic i mean correct me if i'm wrong but it seems like the bond bubble the sovereign bond bubble in the u.s. and the u.k. and we can call it a bubble is in a storage bubble and that and when that finally does burst like all bubbles do we'll see that inflation but it will come all the sudden. and that the very very end but in the meant
when bill clinton was president there were a group of folks in the markets called the bond vigilantes you know and if that goes back to the nineteenth century or so if the government was going to be fiscally imprudent the vigilantes would sell off the bond market and this would somehow force the government to be more more prudent because interest rates would go up but what we've seen with these programs of quantitative easing is that the bond vigilantes have been neutralized they've been taken...
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Feb 28, 2013
02/13
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i mean, -- [talking over each other] [talking over each other] >> when you had bill clinton and newt gingrich, he stood strong. speaker boehner is not strong. lou: i hate to leave it there, but we are out of time. thank you all on the "a-team." we thank you for being with us. we are going to be talking about sequester and this administration tomorrow. it you may rest assured. we thank you for being with us tonight speak ill because of you, mr. president, i think the republicans just called your bluff. welcome, everybody. i am neil cavuto. before the president tries to scare us on these cuts, he might take a good look at republicans to give him the power to avoid these cuts. not with more cuts, but different cuts. not because he says republicans are forcing him to make these cuts. they are not. they are offering to give him broader authority to cut what he sees appropriate within given department. not what the president says has been rammed down his throat through sequestration. i cannot stress enough how big of a deal this is, my friends. he already has this option, but he is just no
i mean, -- [talking over each other] [talking over each other] >> when you had bill clinton and newt gingrich, he stood strong. speaker boehner is not strong. lou: i hate to leave it there, but we are out of time. thank you all on the "a-team." we thank you for being with us. we are going to be talking about sequester and this administration tomorrow. it you may rest assured. we thank you for being with us tonight speak ill because of you, mr. president, i think the republicans...
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Feb 24, 2013
02/13
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what was clinton's great line about reuben? you mean the f-ing bond market is in control? remember that? the politicians have no incentive but the market is a fickle and violent thing and one day, it goes like that. zpl. >> the clock is ticking closer. the cuts are set to go into effect friday, march 1st. joining me now, two co-chairs f the caaign to fix the debt founded by alan simpson, judd gregg from new hampshire and ed rendell,l, the former chair of e democratic party. thanks for joining us. so, what do you think? assuming the affects kick in, what is the immediate impact? ed rendell. >> well, in the very short-term, it will be limited impact, but as the days ghooes on, you'll s people let offf the federal government. you're going to see defense workers let off of their jobs. you're going to see the federal bureaucracy if not grind to a halt be limited in its ability to protect us and keep things moving. it's going to be a real difficult time and it's happening at the worst time when the economy took a hit the last quarter. when it's vulnerable. what we need to be see
what was clinton's great line about reuben? you mean the f-ing bond market is in control? remember that? the politicians have no incentive but the market is a fickle and violent thing and one day, it goes like that. zpl. >> the clock is ticking closer. the cuts are set to go into effect friday, march 1st. joining me now, two co-chairs f the caaign to fix the debt founded by alan simpson, judd gregg from new hampshire and ed rendell,l, the former chair of e democratic party. thanks for...
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when bill clinton was president there were a group of folks in the markets called the bond vigilantes and it was the goods back to the nineteenth century and so if the government was going to be fiscally imprudence the vigilantes would sell off the bond market and this would somehow force the government to be more more prudent because interest rates would go up but what we've seen with these programs of quantitative easing is that the bond vigilantes have been neutralized they've been taken out of the picture because the government themselves are both the seller of the bonds and the biggest buyer of their own bonds so they have destroyed the price signal and the inflation that should be appearing more obviously has is showing up in what would be an historic i mean correct me if i'm wrong but it seems like the bond bubble the sovereign bond bubble in the u.s. and the u.k. and we can call it a bubble is in a storage bubble and that and when that finally does burst like all bubbles do we'll see that inflation but it will come all the sun. and the very very end but in the mean time i. wou
when bill clinton was president there were a group of folks in the markets called the bond vigilantes and it was the goods back to the nineteenth century and so if the government was going to be fiscally imprudence the vigilantes would sell off the bond market and this would somehow force the government to be more more prudent because interest rates would go up but what we've seen with these programs of quantitative easing is that the bond vigilantes have been neutralized they've been taken out...
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he has to keep working because he's the only one who can get rid of the roaches people like hillary clinton who support funding brutal jihad it's rebel groups to overthrow governments to somehow bring about stability and democracy are either dismally stupid or consciously running a very brutal con game but that's just my opinion. welcome to the kaiser report i'm max kaiser. oh break it to make laws that of them and use them as defensive weapons. a type of banker called the horror banker similarly breaks the markets in order to defend itself from the risk of actually competing in the markets there's also a central banker called the horror banker who rips the arms off its currency in order to defend itself from deflation on the cob creature is this ben horror frog earning a max this essential banking fee out hora frog ben bernanke and a real horror a banker had been captured in the wild by the bonsai institute and here this is the lloyd horror frog blankfein and this is horror frog ben bernanke. or. yes i sold that fact on twitter but facts that this horror frog exists and i thought it was a
he has to keep working because he's the only one who can get rid of the roaches people like hillary clinton who support funding brutal jihad it's rebel groups to overthrow governments to somehow bring about stability and democracy are either dismally stupid or consciously running a very brutal con game but that's just my opinion. welcome to the kaiser report i'm max kaiser. oh break it to make laws that of them and use them as defensive weapons. a type of banker called the horror banker...
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he had to take secretary clinton at the state department. >> neil: did he really? >> well, it bolstered his team of rivals. he needed the strength. a guy with no foreign affairs experience no military experience, defense experience, he needed to rely on them. now he is a different man. he has his own team and they see the world the same way he does. the problem ising at the -- problemes they're going to have trouble dealing with the cries itch think secretary clinton got out of town just in time. >> neil: always good to see you. meanwhile, watching your weight? apparently sos is your boss. that could be very legal, whether you like it or not. does this beauty from hell's kitchen have a beef with the government policing what is in your kitchen? miss new york, u.s.a., on the stunning business development and why she wants to break that news here and only here. e annouy technology not moving forward is moving backward. [ engine turns over, tires squeal ] and you'll find advanced safety technology like an available heads-up display on the 2013 lexus gs. there's no goin
he had to take secretary clinton at the state department. >> neil: did he really? >> well, it bolstered his team of rivals. he needed the strength. a guy with no foreign affairs experience no military experience, defense experience, he needed to rely on them. now he is a different man. he has his own team and they see the world the same way he does. the problem ising at the -- problemes they're going to have trouble dealing with the cries itch think secretary clinton got out of town...
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Feb 26, 2013
02/13
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local kid makes good, went to yale, then, of course, went to work for the clinton demonstration and the obama administration serving as acting deputy secretary of the treasury and the timid the dagger, but, perhaps, his biggest role is right now as acting treasury secretary since timothy get to step down because in less than 72 hours kneele will be the treasury secretary barring any quick, of course, confirmation of jet blue who is waiting in the wings, perhaps. when we kick in with the sequestered, the $85 billion in cuts that will automatically kick in unless there is an 11th-hour deal. in my fox business exclusive, while we spoke a lot about that, i began by asking him how long he is committed to stay at the treasury department. >> i am very focused on doing the work of the treasury. working hard to make sure that he is confirmed as quickly as possible. liz: irs commissioner. i heard. >> i don't think so. it has been a great honor to serve this president and at this time. what i said to the president, what gets sent to jack is i will stay on for inappropriate amount of time. for that
local kid makes good, went to yale, then, of course, went to work for the clinton demonstration and the obama administration serving as acting deputy secretary of the treasury and the timid the dagger, but, perhaps, his biggest role is right now as acting treasury secretary since timothy get to step down because in less than 72 hours kneele will be the treasury secretary barring any quick, of course, confirmation of jet blue who is waiting in the wings, perhaps. when we kick in with the...
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Feb 28, 2013
02/13
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president clinton wrote in "new york times" op-ed. at the time i was widely criticized by liberals who thought the work requirements were too harsh and conservatives thought the work requirements too generous. 60% of mothers that left welfare found work far surpassing predictions of experts. this past summer the obama administration department health and human services dropped the requirement of that reform. they did so without the required approval of congress. >> this is a major expansion of executive authority, if it is legal. if it is legal, it is it's the teeniest loophole they are driving a truck through. >> why did the administration do it? one of the nation's leading scholars on welfare says it boils down to an argument between two schools of thought. those who think welfare recipients should seek work and versus those who lost the 1996 battle, one who thinks welfare recipients should get job training. >> people who are on the losing end of that argument are in large measure, in the administration. >> and does job training wor
president clinton wrote in "new york times" op-ed. at the time i was widely criticized by liberals who thought the work requirements were too harsh and conservatives thought the work requirements too generous. 60% of mothers that left welfare found work far surpassing predictions of experts. this past summer the obama administration department health and human services dropped the requirement of that reform. they did so without the required approval of congress. >> this is a...
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Feb 28, 2013
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democratic strategist, a former clinton adviser. dick morris, co-author of "here come the black helicopters" and returning star parker founding president of urban renewal and education. welcome. dick morris, explain to me this. detainees being pushed out. the world is going to hell in a handbag. the military can't function. kids won't eat, they won't be able to go to school. what is obama thinking he's accomplishing with all this gloom and doom. >> he knows he'll lose the sequester fight because congress does better than nothing any other institution on earth. the sequester takes effect. the reason he's making a big fight or sequester he knows his $300 billion of tax increases are going to mess up the economy. he knows that your optimistic projections are not going to happen because of his tax policies. so what he's doing is inventing this boogieman, 85 billion of sequester. it won't be 300 billion of taxes or 200 on payroll or 70 on rich or capital gains. 85 million of cuts. >> spending terms 45, less than that. so small, it's so s
democratic strategist, a former clinton adviser. dick morris, co-author of "here come the black helicopters" and returning star parker founding president of urban renewal and education. welcome. dick morris, explain to me this. detainees being pushed out. the world is going to hell in a handbag. the military can't function. kids won't eat, they won't be able to go to school. what is obama thinking he's accomplishing with all this gloom and doom. >> he knows he'll lose the...
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. >> secretary clinton condemned the associations. as the process of the developing of iranian program went ahead, slowing it down has been an objective for a long amount of time whether it involves the interaction of external supply or stuxnet. on the dprk, for different reasons, different approaches to the use of military force have been taken. in neither case as it resulted in the use of military force. the u.s. regrets that the north koreans have advanced their programs to the test stage. it is a mistake. i am not sure what we can do next. the chinese same to be concerned because the north koreans are being dependent upon china to provide a buffer of stability on the border. they are creating a zone of instability on china's border. we would hope china would play a more forceful role since they seem to have a great deal of influence. one would hope as well that the example of a failure to support united action in north korea would be also a lesson china would pick up with respect to dealing with iran. we should seek at the negotia
. >> secretary clinton condemned the associations. as the process of the developing of iranian program went ahead, slowing it down has been an objective for a long amount of time whether it involves the interaction of external supply or stuxnet. on the dprk, for different reasons, different approaches to the use of military force have been taken. in neither case as it resulted in the use of military force. the u.s. regrets that the north koreans have advanced their programs to the test...
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Feb 27, 2013
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supreme court justices, hillary clinton but there are also ordinary women who are heroes of this film. a woman who was working for a telephone company in atlanta who challenged her employer. a woman who worked for a mining company. where did those women get that courage that they displayed? >> well, i think we get it from each other. that's why it's so important to see this film because we do what we see not what we're told. in my textbook when i was in college, there was one sentence that said women were given the vote. and that was it. we were left thinking that, you know, we got privileges from on high which just isn't the way it works. and to see the coal miner and to see a great woman in history like eileen hernandez who was on the equal employment commission and who was the president of now, who played a huge role certainly at least as much as me, more. yet people don't know her. so this is a real mix of totally unknown, should be well known, a few who are well known. it's real life. and it is, to me, in a way the beginning of history. because it's remedial history. so one day w
supreme court justices, hillary clinton but there are also ordinary women who are heroes of this film. a woman who was working for a telephone company in atlanta who challenged her employer. a woman who worked for a mining company. where did those women get that courage that they displayed? >> well, i think we get it from each other. that's why it's so important to see this film because we do what we see not what we're told. in my textbook when i was in college, there was one sentence...
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Feb 26, 2013
02/13
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>> i think it had to do with bill clinton being at the golden globes. i don't think it's about a steven spielberg versus harvey weinstein, because i don't know exactly how many villages it took to get michelle obama to do this. i'm sure more than one phone call was made. >> but sharon, don't you think she had a great dress? >> i thought she looked amazing. >> she did. she looked great. >> i'm on the record, she looked beautiful. >> no conspiracy, just a great dress. >> she's a good mother. i don't have any problem with that. i just thought it was weird. sharon, michael, steve, senator kay bailey hutchison. that's it for tonight's show. thanks for watching. [ lorenzo ] i'm lorenzo. i work for 47 different companies. well, technically i work for one. that company, the united states postal service® works for thousands of home businesses. because at usps.com® you can pay, print and have your packages picked up for free. i can even drop off free boxes. i wear a lot of hats.
>> i think it had to do with bill clinton being at the golden globes. i don't think it's about a steven spielberg versus harvey weinstein, because i don't know exactly how many villages it took to get michelle obama to do this. i'm sure more than one phone call was made. >> but sharon, don't you think she had a great dress? >> i thought she looked amazing. >> she did. she looked great. >> i'm on the record, she looked beautiful. >> no conspiracy, just a great...
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bill clinton did a great job as well. this isn't even bill clinton. the policies they have put into place are antigrowth. stuart: are we headed into a recession? >> i don't know. the fourth quarter 2012, all we need is one more quarter down and that would be the official definition of a recession, so we are close. i think it is pretty rocky, to be honest with you, for the next year. i don't agree with the president, although i would love him to be right and we get very good growth, but i think this next year will be a very tough year. stuart: art laffer joining us from the retirement capital of america, tennessee. is that true? >>> no, we're all hard working people. that is all, stuart. stuart: thank you, art. the dow down 100 points, off 101. that is what happens when you threaten to raise taxes. bowling streamliner remains grounded. now you can let the finger-pointing begin according to "the seattle times." engineers blame the battery problems on the outsourced supply chain. those engineers say poor quality components are coming from subcontractors
bill clinton did a great job as well. this isn't even bill clinton. the policies they have put into place are antigrowth. stuart: are we headed into a recession? >> i don't know. the fourth quarter 2012, all we need is one more quarter down and that would be the official definition of a recession, so we are close. i think it is pretty rocky, to be honest with you, for the next year. i don't agree with the president, although i would love him to be right and we get very good growth, but i...
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it was from the clinton administration. host: who is it for? low-income youths? guest: i don't know on that point. it is mostly targeted for low income people. host: veterans employment and training services. what do they do and how could mpacted?i guest: veterans who might need skills or support. this was not included in the exemption for veterans' programs because it is house within the department of labor. that would be cut like everything else. i think the total is $4 million or something. it is 5% of the overall budget. host: john in virginia. caller: good morning. thank you for taking my call. i started under a program when i was 14. that was a low income work program for teenagers. it was a great thing for me growing up. i have been working since i was 14. i have since become disabled. the corporate cuts with government. they should look at some of these corporate cuts and close some of the loopholes for the multibillion-dollar companies that are not paying any taxes. i don't have a problem with cutting some of the services we do have. host: dylan matthews
it was from the clinton administration. host: who is it for? low-income youths? guest: i don't know on that point. it is mostly targeted for low income people. host: veterans employment and training services. what do they do and how could mpacted?i guest: veterans who might need skills or support. this was not included in the exemption for veterans' programs because it is house within the department of labor. that would be cut like everything else. i think the total is $4 million or something....
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you didn't start losing manufacturing until a democrat, president clinton, and then you had companies that rushed for the cheap. stuart: but you don't want to have the american government support american manufacturers to keep jobs here, or do you? >> i do. trade policies, fair trade, i can't ship tires to china without paying a duty. i can't ship them to brazil. you can't ship. it is the same all over. if you are going to charge me -- you want fair trade? if they charge duty, we charge a duty. otherwise you put with american workers. stuart: the chinese tires come to america duty free? >> they were. and we sued. i have to go to washington. you have to hire the lawyers. pay 7 million. and then we have a trial. we prove it. so they slapped the duties on. stuart: what do you make of the state of america's economy? we have been talking this morning that it is the wal-mart economy, slow growth, high tax, big debt, slow growth. we keep hearing that. what do you make of it? >> well, whenever you have -- whether you look at most of the states, they are in trouble. our president is from chica
you didn't start losing manufacturing until a democrat, president clinton, and then you had companies that rushed for the cheap. stuart: but you don't want to have the american government support american manufacturers to keep jobs here, or do you? >> i do. trade policies, fair trade, i can't ship tires to china without paying a duty. i can't ship them to brazil. you can't ship. it is the same all over. if you are going to charge me -- you want fair trade? if they charge duty, we charge a...